Forget Lloyd and Jamie: Meet SEC Arch-Nemesis #1

Tyler Durden's picture

Via Mark Cuban's Blog Maverick blog,

Its not fun being in the government’s crosshairs.  But there is comfort in knowing that the then Head of Enforcement at the SEC , Linda Thomsen (now of Davis & Polk law firm. I’m guessing her clients are proud !) went to the Nth degree to make sure she knew the smallest details of my case before moving forward !


SEC Internal Email of MC Pictures 2

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SEC Internal Email of MC Pictures 3

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Internal Email of MC Pictures 5

SEC Internal Email of MC Pictures 1


ZH - What a sad state of affairs... when day after day we highlight (along with Nanex) the millions being stolen millisecond by millisecond tight under their ignorant noses...

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TruthInSunshine's picture

"...and with Liberty & Justice for all {but more for some than others}."

---Pledge of Obamallegience

Dareconomics's picture

The reality is that the SEC is ineffective, but they cover this up with perception plays such as prosecuting a high-profile defendant for a little press.

bania's picture

The US really has a problem with Cuba, and all things Cuban.

Urban Redneck's picture

She's a kleptocrat cunt, and went through the revolving door and right BACK to Davis Polk. IF YOU KNOW ANYONE AT DAVIS POLK.. be sure to send a polite but smart-ass "sorry for your embarrassment" email to them.

Ms. Thomsen is a senior member of Davis Polk’s White Collar Criminal Defense Group, which was named a “White Collar Group of the Year” by Law360 for 2012.

She was the recipient of a “2012 Distinguished Legal Writing Award” from The Burton Awards for Legal Achievement. WTF -what writing skill???

In 2009, she was named to Ethisphere’s “100 Most Influential People in Business Ethics.” again- WTF???

Professional History
Partner, Davis Polk, 2009-present
Securities and Exchange Commission: served for 14 years in the Enforcement Division as Director (2005-2009), Deputy Director (2002-2005), Associate Director (2000-2002), Assistant Director (1997-2000), Assistant Chief Litigation Counsel (1995-1997)
Counsel, Davis Polk, 1989-1995
Associate, Davis Polk, 1979-1983; 1985-1989


She has represented clients in SEC enforcement investigations and inquiries, in enforcement matters before other agencies, including the Department of Justice (various U.S. Attorneys Offices) and the Commodities Futures Trading Commission, in investigations and inquiries from self-regulatory agencies, including FINRA, and in internal investigations.

These matters, which are typically nonpublic, have covered a broad range of securities-related subject matters, including insider trading, foreign corrupt practices, financial reporting, manipulation and regulatory compliance. Her clients have included major financial institutions, regulated entities, public companies and senior executives.

Ms. Thomsen returned to Davis Polk in 2009 after 14 years of public service at the SEC. While there she held a variety of positions and ultimately served as the Director of Enforcement from 2005 through February 2009. During her tenure as the Director of Enforcement, she led the Enron investigation, the auction rate securities settlements, the stock options backdating cases and the expansion of the enforcement of the Foreign Corrupt Practices Act.

WallowaMountainMan's picture

Urban: "She's a kleptocrat cunt"


no no no, urban. s/b

"she's a kleptocratacunt"

not to worry.

its a common mistake.



eftian's picture

This is what the SEC investigation of Mark Cuban is all about imo, the financing of "Loose Change" about 911.

fourchan's picture

but the goldman sachs an jp morgan chaces are off limits. the sec is a fucking joke with a cherry on top.

FEDbuster's picture

They should stick to watching tranny porn on the web.  

eftian's picture

-Midget tranny porn - fixed it!

alphamentalist's picture

if we prosecuted all americans who engage in koshered insider-trading it would open up about 90% of the seats in congress. it might be a good idea to demand more of this?

ImpotentRage's picture

More importantly, our politicians would lose all their puppetmasters. Imagine what affect that would have on the government!

TrustWho's picture

Alpha, you do not understand DC. The Congress and President can trade on insider information under the law written and passed by house and Senate and signed by President. They are LEGALLY allowed to do what would put you in jail. Remember, justice is America, like all other Banana Republics, IS NOT BLIND!  

aminorex's picture

The very notion that trading on material non-public information should be criminalized betrays a woeful misunderstanding of the nature of capital markets.  Is malinvestment to be the only kind of investment allowed?

NOTaREALmerican's picture

Look, if we punish the job creators who will create the jobs?

Overfed's picture

Mark Cuban recently started publicly espousing libertarian viewpoints. Anyone out ther really think that the target painted on his ass by .gov is a coincidence?

ImpotentRage's picture

What? But the government would never discriminate! Well, except that one time... and that time as well... and then there was that one time... but THIS time its the truth, I swear!

NOTaREALmerican's picture

Re:  Mark Cuban recently started publicly espousing libertarian viewpoints.

Maybe he wants a sports stadium built or new subsidy?

Overfed's picture

Well if he does, he had better get back on the statist reservation. When people with real wealth and clout go anti-State, they tend to have 'accidents' when .gov's court system bludgeon doesn't have the desired effect.

All Risk No Reward's picture

The real problem was Cuban was going to fund Loose Change to put it into theaters.

Loose Change Documentary

911 Hidden in Plane Sight

Physics Teacher David Chandler's 911 analysis from a physics standpoint:

The official 911 narrative is physically impossible.  Literal phsyical miracles are required for the official, government sanctioned narrative to be true.

Then again, this is the government that authored Operation Northwoods...

...and took it live in the Gulf of Tonkin.

fonzannoon's picture

The last interview I saw of him he was saying how quickly he would be willing to give up his freedom in return for moar government protection.

Libertarian my ass.

Mercury's picture

In other regulatory news, here are the SEC's latest proceedings in "The Matter of Knight Capital"

Flip to p.5 to find out how to rev your HFT engine to -$100mm per hour.

DaddyO's picture

Cuban must've felt pretty spectacular walking out of court...

Just think how much all this cost him in lost opportunity and legal fees.


BidnessMan's picture

Meh - rounding error on his net worth.  SEC lawyers looking for a big score to enhance their resume for a jump to a million dollar partnership at a big K Street law firm.  Build your resume using unlimited taxpayer dollars.  Justice has nothing to do with it.  Cuban is one of the lucky few who can afford to fight back.

adr's picture

I like Cuban, but really can't stand that he's a part of that scamfest SharkTank.

Products brought to you by the people who build a piece of shit in China for $.50 and r sell it for $19.95 with $7.95 processing and handling.

Then the group buys out shelf space at mega retailers. By controlling retail space, they control what goes in it. If you don't go through them you aren't going to sell your product at all.

My favorite part of the As Seen on TV peddlers is that they do openly mock the idiots that buy their products. Vince used to say how he couldn't believe people would pay $20 for a pack of ShamWows when they could go online and buy the same pack for $1 from a wholesaler.

As with everything in America, you're either an idiot getting scammed or the one running the scam.

Mercury's picture

Just so you know, that's how they produce reality shows too.

They can't believe you're actually watching...

Jadr's picture

I don't really get your hatred of SharkTank.  I think it is a lot better than the vast majority of shows on television and it is one of the few shows that I enjoy watching regularly.  It gives entrepreuneurs a chance to get funding for their business and viewers can get an idea of how businesses and ideas are evaluated by a successful group of people.  Your issue seems to be with the items being sold which you do not have to buy if you don't want them.  If enough people feel the same way as you then the business will fail.  That's how the free market works.

Trimmed Hedge's picture

I think what adr is trying to say is..

"I'm out..."

dobermangang's picture

Yup, Shark Tank's a good show.  I think many smart entrepreneurs are now going on the show just to get their 10 minutes of free prime time advertising(not counting reruns) with no intentions of making a deal.  I think tonight's show has their biggest deal offer ever. It's nice to hear smart people's opinion on why a businesses or potential business might succeed or fail.

ghengis86's picture

Shark tank is great. They talk margins, capital, equity, lines of credit, distribution channels, merchandizing, retail models, production, intellectual property, revenue, assets, liability, risk, etc etc

It's one of the only shows I watch and can watch with the old lady, cause she likes it more than that 'real' housewives shit.

4 wheel drift's picture

I like Cuban, but really can't stand that he's a part of that scamfest SharkTank.

Products brought to you by the people who build a piece of shit in China for $.50 and r sell it for $19.95 with $7.95 processing and handling.


no one is pointing a gun to the purchasers.....   and THAT is the real problem....  they do that to themselves....   (just like the aACA and o'bamba supporters)


the majority of this mindless morons are in all probablility members of the F$A who as you point out is/are....  "an idiot getting scammed"


those who you refer to "running the scam"....   they are the ones ... er...   living the american dream  (the original one) -lol



johnnyblade's picture

Tyler you are getting a little love on Yahoo news about the Death Star idea.  Funny

NOTaREALmerican's picture

Re:  Death Star idea

That idea would never work.  How would Krugman fit into that Darth Vader suit?

johnnyblade's picture

The story is by John Aziz.  I think it is worthy of a reply.  He is basically calling you out.

Dr. Engali's picture

Well at least Martha Stewart can breath a sigh of relief that she is no longer public enemy number one.

Trimmed Hedge's picture

I want to punch her right in the cunt...

Toolshed's picture

I wouldn't do that if I were probably has AT LEAST 3 rows of razor sharp teeth.

Ness.'s picture

Can I send the bill for my (now needed) new keyboard to you directly?


Funny shit.

Dewey Cheatum Howe's picture

I always thought she had a box like a Sarlacc.

thewhigs's picture

"Halls of Justice Painted Green
  Money Talking
  Power Wolves Beset Your Door
  Hear Them Stalking
  Soon You'll Please Their Appetite
  They Devour
  Hammer of Justice Crushes You

...and Justice for All


Uinta's picture

Now I feel fully informed. The email from McKlown is particulary helpful and certainly speaks a 1000 words (if not more).

williambanzai7's picture

Is Davis Poke a sex chat site?

Quantum Nucleonics's picture

$1,500 per billable hour is an awful lot to "chat".

Cacete de Ouro's picture

Now I feel fully informed. The picture with the mickey mouse t-shirt is particulary helpful and certainly speaks a 1000 words (if not more).



jcaz's picture

In a 5 minute chat on CNBC,  Cuban shed more light on how the SEC really operates than any other entity has over the past 30 yrs-   been there, done that,  he's 100% accurate in his opinion of the experience.... 

Will suck for him to get audited every year for the rest of his life,  but I suspect he's ready for all the usual bullshit........

mumbo_jumbo's picture

i had no clue what this post is about and after reading it i still don't......sorry, this guys problems are not on my radar and i still have no clue why this thread/post was posted.

4 wheel drift's picture

i had no clue what this post is about and after reading it i still don't......sorry, this guys problems are not on my radar and i still have no clue why this thread/post was posted.


- roflmao......    er...


so why are you posting on this subject.....   ?

goldenbuddha454's picture

When the current administration succeeds in driving the last and greatest entrepreneurs out of the US and into Singapore, Hong Kong etc.... they'll wonder where all the tax revenue has gone and make a beeline for everyone's retirement accounts.

RaceToTheBottom's picture

I hate Mark Cuban with a passion. I doubt he could form the intellectual discipline to even think about being a Libertarian.  Before the Rush's & Trumps of the world, he is close to being the prototypical Ugly American.

Every time I see Mark, I want to throw up.

Quantum Nucleonics's picture

I've never been a fan of Mark Cuban, he's a jerk, but I am certainly enjoying his victory dance over the SEC.  He's certainly going the extra mile to rub their noses in it.